Diagnostic Catheter Market | Neurology and Cardiology Application To Dominate The Market

Pune, India, 2020-Feb-05 — /EPR Network/ —

Diagnostic catheters are useful in performing various diagnostic procedures using different imaging techniques. The diagnostic catheters market is expanding with the emergence of new applications and technologies. These catheters are being used for several indications in different application areas such as cardiology, urology, gastroenterology, neurology, and others.

Applications of Diagnostic Catheters Market:

1. Cardiology
2. Urology
3. Gastroenterology
4. Neurology

Diagnostic catheters applications in Neurology and cardiology is expected to boost the growth of Diagnostic Catheter Market in the near future.

Cardiology:

The demand for cardiac catheters is fueled by the increasing incidence of cardiovascular and pulmonary disorders across the globe. Moreover, increasing technological improvements, primarily in the form of wireless technology and software, are expected to enable faster and more convenient diagnosis in the near future.

Neurology:

Catheters are also increasingly used for diagnostic applications in neurology. Diagnosis of disorders and diseases such as aneurysms and atherosclerosis (plaque), along with the guidance of X-ray imaging, is done using cerebral angiography. The use of catheters makes it possible to combine diagnosis and treatment in a single procedure, eliminating the need for open surgery.

The overall diagnostic catheters market is projected to reach USD 4,302.3 million by 2021 from USD 3,025.8 million in 2016, at a CAGR of 7.3%.

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Continuous ongoing improvements in catheter designs to simplify their use and make them safer and more effective are playing a pivotal role in growth of the market.

OCT has revolutionized the medical imaging industry and has extended its applications in disease diagnosis and imaging of various cellular and molecular processes in vivo. The successful application of OCT imaging in various diagnostic areas such as cardiology has resulted in greater adoption of OCT imaging catheters by doctors for various diagnostic indications.

Regional Growth and Demand Analysis:

The diagnostic catheter market in APAC is expected to grow at the highest CAGR during the forecast period. The growing patient population, increasing awareness about healthcare, growing per capita healthcare expenditure, government initiatives, and growing investments to modernize the healthcare infrastructure in these regions is expected to drive market growth in developing economies.

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Key Players:

The diagnostic catheters market comprises a network of players involved in the research and product development; raw material supply; medical device manufacturing; distribution and sale; and post-sales services. The major players in the global market are Boston Scientific Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Medtronic plc. (Ireland), Johnson & Johnson (U.S.), Koninklijke Philips N.V. (The Netherlands), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), C. R. Bard, Inc. (U.S.), Edward Lifesciences Corporation (U.S.), and Terumo Corporation (Japan).